"He, Madame, whoever he may be, has gained my everlasting gratitude."

"Show it to him," said Madame Desvarennes; "he is the companion of
Micheline's young days, almost a son to me."

And turning toward Pierre, she pointed him out to Panine.

Serge took three rapid strides toward Pierre, but quick as he had been Micheline was before him. Each of the lovers seized a hand of Pierre, and pressed it with tender effusion. Panine, with his Polish impetuosity, was making the most ardent protestations to Pierre—he would be indebted to him for life.

Micheline's late betrothed, with despair in his heart, allowed his hands to be pressed and wrung in silence. The voice of her whom he loved brought tears to his eyes.

"How generous and good you are!" said the young girl, "how nobly you have sacrificed yourself!"

"Don't thank me," replied Pierre; "I have no merit in accomplishing what you admire. I am weak, you see, and I could not bear to see you suffer."

There was a great commotion in the drawing-room. Cayrol was explaining to Herzog, who was listening with great attention, what was taking place. Serge Panine was to be Madame Desvarennes's son-in-law. It was a great event.

"Certainly," said the German; "Madame Desvarennes's son-in-law will become a financial power. And a Prince, too. What a fine name for a board of directors!"

The two financiers looked at each other for a moment; the same thought had struck them.